Procedures to change proposal/ policy

Information, which can be changed, is as follow:

1. Change of proposal/ policy information

person Information of customer identity: Name, Age, Gender, Identification document, Signature, Contact address;

account_box Change of information and/or add beneficiaries;

low_priority Change frequency mode or method of premium payment;

cancel Cancellation of Proposal or Policy;

cached Change insurance conditions: Based on the product feature, it is allowed to change or add some conditions such as increase/ decrease sum assure amount, add/cancel riders ...

Submit payment request for refund of excessive premium, cash benefit amounts, refund amount, policy cancellation/ surrender amount or maturity amount.

 

Procedures:

  • Based on the type of amendments, Aviva will request corresponding Forms and Documents. Customers please kindly contact your agent for details instruction and advice.
  • Some amendments may incur premium payment (changes at anniversary date may result in an increase in age of life assured and lead to an increase in periodical premium…)
  • After receiving amendment request, Aviva will verify, underwrite and process based on regulations of the company. The result of the process (acceptance or rejection of amendment) will be noticed by the customer in a written document.
  •  

    In regard to amendments which incur refunding of excessive premium, Aviva will pay out refund premium to Customers. 

    2. Policy reinstatement

    After the policy turned to lapsed status, Customers have the rights to request Aviva to reinstate their policies within 24 months since the lapsed date.

    Procedures:

    Customer should fill in full information in the Reinstatement request and Health Declaration form (in case customers need to declare health information). Pay outstanding premium and reinstatement fee (if any);

    After receiving Reinstatement request form, Aviva will verify, underwrite and process based on regulation of the company. The result of the process shall be noticed by the customer in a written document:

  • Acceptance of reinstatement;
  • Requirement of health check;
  • Requirement for extra premium payment;
  • Postpone of reinstatement;
  • Rejection of reinstatement.
  • Customer must fill in full information in the Reinstatement request form and Health Declaration (if the policy has lapsed more than 6 months)

    Allowed time of implementation for specific amendment:

  • Amendment request for proposal should be submitted within the free-look period (21 days since Acknowledgement date).
  • Amendment request for policy should be submitted 30 days prior premium due date and no later than the end of grace period.